Been watching the AI stock selloff lately, and honestly, the debt narrative isn't going away anytime soon. What's interesting is how macro headwinds are creating ripple effects across risk assets—not just tech, but everything tied to liquidity conditions.

The pattern here matters. When governments are drowning in debt servicing costs, capital gets expensive, and that hits high-growth sectors first. We've seen this cycle play out before with crypto volatility too. Risk-off sentiment spreads faster than most people expect.

The question isn't whether AI is valuable—it obviously is. But can valuations hold when rates stay elevated and fiscal pressures mount? That's what traders are pricing in right now. Keep an eye on how traditional markets move; the correlation with digital assets is stronger than many realize.